Third Amended Reorganization Plan and Disclosure Statement Filed by RMR Operating, LLC
August 27, 2018 at 05:00 am
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RMR Operating, LLC filed third amended joint plan of reorganization with related disclosure statement in the US Bankruptcy Court on August 27, 2018. As per the amended plan filed, any allowed claims of Black Shale will be reinstated. Any Allowed General Unsecured Claims against Red Mountain of $0.60 million will be recovered 16%, i.e., $0.10 million. Any Allowed General Unsecured Claims against Cross Border of $0.41 million and any allowed general unsecured claims against Black Rock of $0.02 million will be paid in full in cash. There is no distribution made towards any allowed general unsecured claims against RMR. There is no change in the treatment of any other claim class.
Cross Border Resources, Inc. an independent natural gas and oil company engaged in the exploration, development, exploitation, and acquisition of natural gas and oil reserves in North America. The Company primarily focuses on the area of the State of New Mexico, principally southeastern New Mexico. As of June 30, 2014, the Company owned over 865,893 gross (approximately 293,843 net) mineral and lease acres in New Mexico. The Companyâs producing oil and natural gas properties are concentrated in the Permian Basin. The Companyâs main area of focus is the Tom Tom/Tomahawk Prospect, where the Company would continue work on the field alongside the execution of its remediation plan. A significant majority of its acreage consists of either owned mineral rights or leases held by production.
CROSS BORDER RESOURCES, INC. 
